<p>2025 年即将结束，尽管这一年表现强劲，但许多投资者对 2026 年的前景感到不安。尽管关于泡沫的讨论不断，债务投资者最近也对资助大型数据中心感到犹豫，人工智能（AI）热潮是否会继续？特朗普总统会选择谁作为新的联邦储备主席，新提名人会独立吗？</p>
<p>短期担忧总是主导头条新闻和投资者的思维，但真正的长期超额收益来自于更广阔的思维方式和对大局的把握。</p>
<p>假设 AI 建设持续推进，未来几年 AI 的使用不断增加——目前没有证据表明 AI 的采用正在放缓——这三只人工智能股票仍然看起来有上涨空间。事实上，预计到 2026 年，每只股票都有 50% 的上涨潜力。</p>
<p>展开</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTVNGVC5wbmcWdz0xMjgWb3A9cmVzaXpl?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="微软股票报价" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9hcnQvY29tcGFueWxvZ29zL21hcmsvTVNGVC5wbmcWdz0xMjgWb3A9cmVzaXpl"/></p>
<h2>NASDAQ: MSFT</h2>
<p>微软</p>
<p>今日变动</p>
<p>(0.22%) $1.08</p>
<p>当前价格</p>
<p>$485.06</p>
<h3>关键数据点</h3>
<p>市值</p>
<p>$3.6 万亿</p>
<p>日内区间</p>
<p>$482.48 - $487.73</p>
<p>52 周区间</p>
<p>$344.79 - $555.45</p>
<p>成交量</p>
<p>984K</p>
<p>平均成交量</p>
<p>2300 万</p>
<p>毛利率</p>
<p>68.76%</p>
<p>股息收益率</p>
<p>0.70%</p>
<h2>1. 微软</h2>
<p><strong>微软</strong>（ MSFT +0.22%）在 2025 年迄今上涨了 15%，但最近几个月有所回落。投资者对 OpenAI 的技术护城河和资助大规模支出承诺的能力感到紧张。这对微软来说至关重要，因为它既是 OpenAI 的 27% 股东，又是 OpenAI2500 亿美元云计算承诺的云服务提供商——这是 OpenAI 在 2025 年转型为盈利公司的谈判结果。</p>
<p>这种所有权和云管道对微软来说是非常利好的，但最近几个月对 OpenAI 在生成 AI 领域的领先地位产生了怀疑。竞争对手 Anthropic 显示出显著的企业增长，而 <strong>Alphabet</strong>（ GOOG +1.60%）（ GOOGL +1.47%）在 11 月发布了其令人印象深刻的 Gemini 3 模型。</p>
<p>广告</p>
<p>不过，这种恐惧可能是多余的。AI 革命不太可能被单一模型构建者主导，而是由一群赢家在寡头垄断中共同发展。这与半导体和云计算行业的发展方式相似。AI 大型语言模型（LLM）市场可能会遵循类似的路径。</p>
<p>毕竟，Alphabet 在今年早些时候被视为 AI 竞赛的失败者，但随后重新夺回了领先地位。OpenAI 显然不会消失，而本周 <strong>亚马逊</strong> 对 OpenAI 的投资似乎表明，至少一些精明的高管和投资者仍然相信这家公司。</p>
<p>与此同时，<strong>摩根士丹利</strong>卖方 分析师 Keith Weiss 刚刚上调了微软股票评级，给出了 650 美元的目标价，相较于当前价格有 35% 的上涨空间。他的分析和与管理层的对话表明，Azure AI 的需求比最初预期的要强，并且随着未来两年收入的增加，Azure AI 的 毛利率 可以随着规模的扩大而提升。此外，Weiss 指出，他的估计甚至没有考虑到完整的 OpenAI 合同，这可能会带来进一步的上涨空间。</p>
<p>2026 年还将推出微软的下一代 AI 芯片，名为 Braga。根据今年夏天的报道，该芯片最初计划在 2025 年推出，但由于重新设计，推出时间推迟了六个月。如果微软能够开发出一款令人印象深刻的自家设计芯片，像 Alphabet 和亚马逊那样，这将进一步提升市场的乐观情绪。</p>
<h2>2. Alphabet</h2>
<p>说到 Alphabet，微软和 Alphabet 在 2026 年都有可能上涨 50%。虽然 Alphabet 在 “七大奇迹” 股票中表现最佳，今年上涨了 62%，但 Alphabet 年初时也是这群股票中最便宜的。事实上，尽管今年上涨，但它仍然是 这群股票中第二便宜的。</p>
<p>进入今年，投资者对 AI 聊天机器人可能会扰乱 Alphabet 的搜索业务感到紧张。然而，这似乎并没有发生。搜索付费点击在第一、第二和第三季度分别增长了 2%、4% 和 7%，显示出在 Alphabet 于 5 月将 AI 模式引入搜索后，增长重新加速。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg0NzcwNS9nZXR0eWltYWdlcy0yMjI2MzM5NDE5LmpwZxZ3PTM4NDAWb3A9cmVzaXpl?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg0NzcwNS9nZXR0eWltYWdlcy0yMjI2MzM5NDE5LmpwZxZ3PTM4NDAWb3A9cmVzaXpl"/></p>
<p>图片来源：Getty Images。</p>
<p>随着 11 月 Gemini 3 的发布，Alphabet 似乎在多个基准测试中暂时领先于 AI 竞赛。更好的是，Gemini 3 是在 Alphabet 自家研发的张量处理单元（TPU）上训练的。在 Gemini 发布后，其他主要公司现在正在寻求从 Alphabet 或其云部门 Google Cloud 购买或租赁 TPU。</p>
<p>甚至 Alphabet 的竞争对手 <strong>Meta Platforms</strong> 据报道也在考虑使用 TPU，根据 11 月底的新闻报道。而就在上周五，路透社报道了网络安全巨头 <strong>Palo Alto Networks</strong> 与 Google Cloud 之间达成的一项超过 100 亿美元的大型云交易。</p>
<p>这对谷歌云的前景非常乐观，谷歌云一直是 Alphabet 业务中被严重低估的一部分。截至上个季度，谷歌云的收入年化率已达到 600 亿美元，运营利润年化率接近 50 亿美元。该业务在第三季度的增长加速了 34%，同时伴随着利润率的提升。</p>
<p>因此，云业务不仅可能成为广告收入之外的第二个主要利润中心，2026 年也可能为 Waymo 带来令人兴奋的发展。Waymo 目前每月提供超过 100 万次自主驾驶服务，在规模化方面领先于竞争对手。明年可能会有更多关于 Waymo 收入或估值的披露，这可能为 Alphabet 不断扩张的帝国增添另一个重要业务。</p>
<h2>3. 英特尔</h2>
<p><strong>英特尔</strong>（INTC +1.49%）的表现甚至比 Alphabet 或微软更好，今年迄今上涨了 83.6%。当然，英特尔在 2025 年之前的交易价格几乎处于困境，低于其 账面价值，并且没有首席执行官。尽管在 2025 年出现了激增，但其 市值 仍远低于今天所有所谓的 AI 赢家。</p>
<p>与此同时，2026 年似乎将是一个令人兴奋的年份。新任首席执行官 Lip-Bu Tan 于 3 月加入公司，将开始更加明显地展现他的影响力。至关重要的 18A 节点——英特尔预测将在该节点上与竞争对手持平或重新获得行业技术领导地位——将开始交付产品。18A 本季度刚刚开始大规模生产，首款 18A 产品 Panther Lake 预计将在 1 月进入笔记本市场。</p>
<p>在 18A 节点上取得成功，带来更好的收入和利润率，可能为未来的 18AP 和 14A 节点赢得外部客户。根据中国研究公司 GF Securities 的分析师报告，科技专家已经透露，<strong>苹果</strong>、Nvidia，甚至英特尔的竞争对手 <strong>超微</strong> 都在考虑潜在使用 14A 节点用于其服务器中央处理单元（CPU）。</p>
<p>如果有外部客户承诺使用英特尔的 14A 节点，预计将在 2027 年或 2028 年发布，可能会在 2026 年确认客户的成功。毕竟，过去一个月左右，关于 14A 技术和英特尔 EMIB 封装技术采用的积极报告已经层出不穷。</p>
<p>如果投资者相信英特尔在工艺技术方面已经追平或超越，18A 制造带来的财务结果改善，和/或英特尔宣布获得重要的外部 18AP 或 14A 客户的成功，那么该股票仍然有相当大的上涨空间。</p>

谷歌-A

微软

谷歌-C

<p>这篇文章讨论了包括微软和谷歌在内的三只与人工智能相关的股票在 2026 年之前可能上涨 50% 的潜力。尽管对人工智能泡沫和竞争的担忧存在，但微软的 Azure AI 需求和谷歌的人工智能进展（如 Gemini 3 模型）显示出良好的前景。分析师预测显著增长，微软的股票可能达到 650 美元。谷歌云也在获得关注，进一步增强了其积极的前景</p>

<p>2025 is nearly over, and despite the strong year, many investors are biting their fingernails over the prospects for 2026. Will the artificial intelligence (AI) boom continue despite talks of a bubble and debt investors recently balking at funding large-scale data centers? Whom will President Donald Trump pick as the new Federal Reserve chair, and will the new nominee be independent?</p>
<div class="lb-trans"><p>2025 年即将结束，尽管这一年表现强劲，但许多投资者对 2026 年的前景感到不安。尽管关于泡沫的讨论不断，债务投资者最近也对资助大型数据中心感到犹豫，人工智能（AI）热潮是否会继续？特朗普总统会选择谁作为新的联邦储备主席，新提名人会独立吗？</p>
</div><p>Short-term concerns always dominate headlines and investors' mindsets in the moment, but real long-term outperformance comes from taking a broader mindset and looking at the big picture.</p>
<div class="lb-trans"><p>短期担忧总是主导头条新闻和投资者的思维，但真正的长期超额收益来自于更广阔的思维方式和对大局的把握。</p>
</div><p>Assuming the AI buildout continues apace and AI usage increases over the next several years -- and there's no evidence AI adoption is slowing at all -- these three artificial intelligence stocks still look like they have upside. In fact, there's a case for 50% upside for each in 2026.</p>
<div class="lb-trans"><p>假设 AI 建设持续推进，未来几年 AI 的使用不断增加——目前没有证据表明 AI 的采用正在放缓——这三只人工智能股票仍然看起来有上涨空间。事实上，预计到 2026 年，每只股票都有 50% 的上涨潜力。</p>
</div><p>Expand</p>
<div class="lb-trans"><p>展开</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01TRlQucG5nJnc9MTI4" alt="Microsoft Stock Quote" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Fart%2Fcompanylogos%2Fmark%2FMSFT.png&amp;w=128&amp;op=resize"/></p>
<h2>NASDAQ: MSFT</h2>
<div class="lb-trans"><h2>NASDAQ: MSFT</h2>
</div><p>Microsoft</p>
<div class="lb-trans"><p>微软</p>
</div><p>Today's Change</p>
<div class="lb-trans"><p>今日变动</p>
</div><p>(0.22%) $1.08</p>
<div class="lb-trans"><p>(0.22%) $1.08</p>
</div><p>Current Price</p>
<div class="lb-trans"><p>当前价格</p>
</div><p>$485.06</p>
<div class="lb-trans"><p>$485.06</p>
</div><h3>Key Data Points</h3>
<div class="lb-trans"><h3>关键数据点</h3>
</div><p>Market Cap</p>
<div class="lb-trans"><p>市值</p>
</div><p>$3.6T</p>
<div class="lb-trans"><p>$3.6 万亿</p>
</div><p>Day's Range</p>
<div class="lb-trans"><p>日内区间</p>
</div><p>$482.48 - $487.73</p>
<div class="lb-trans"><p>$482.48 - $487.73</p>
</div><p>52wk Range</p>
<div class="lb-trans"><p>52 周区间</p>
</div><p>$344.79 - $555.45</p>
<div class="lb-trans"><p>$344.79 - $555.45</p>
</div><p>Volume</p>
<div class="lb-trans"><p>成交量</p>
</div><p>984K</p>
<div class="lb-trans"><p>984K</p>
</div><p>Avg Vol</p>
<div class="lb-trans"><p>平均成交量</p>
</div><p>23M</p>
<div class="lb-trans"><p>2300 万</p>
</div><p>Gross Margin</p>
<div class="lb-trans"><p>毛利率</p>
</div><p>68.76%</p>
<div class="lb-trans"><p>68.76%</p>
</div><p>Dividend Yield</p>
<div class="lb-trans"><p>股息收益率</p>
</div><p>0.70%</p>
<div class="lb-trans"><p>0.70%</p>
</div><h2>1. Microsoft</h2>
<div class="lb-trans"><h2>1. 微软</h2>
</div><p><strong>Microsoft</strong>( MSFT +0.22%) is up a solid 15% year to date in 2025 but has pulled back in recent months. Investors have grown nervous over OpenAI's technical moat and ability to fund massive spending commitments. That's important for Microsoft, which is both a 27% owner of OpenAI and a cloud provider for $250 billion of OpenAI cloud computing commitments -- a result of the 2025 negotiations by which OpenAI converted into a for-profit company.</p>
<div class="lb-trans"><p><strong>微软</strong>（ MSFT +0.22%）在 2025 年迄今上涨了 15%，但最近几个月有所回落。投资者对 OpenAI 的技术护城河和资助大规模支出承诺的能力感到紧张。这对微软来说至关重要，因为它既是 OpenAI 的 27% 股东，又是 OpenAI2500 亿美元云计算承诺的云服务提供商——这是 OpenAI 在 2025 年转型为盈利公司的谈判结果。</p>
</div><p>That ownership and cloud pipeline would be highly bullish for Microsoft, but doubt has crept in regarding OpenAI's lead in generative AI in recent months. Rival Anthropic has shown significant enterprise growth, and <strong>Alphabet</strong>( GOOG +1.60%)( GOOGL +1.47%) released its impressive Gemini 3 model in November.</p>
<div class="lb-trans"><p>这种所有权和云管道对微软来说是非常利好的，但最近几个月对 OpenAI 在生成 AI 领域的领先地位产生了怀疑。竞争对手 Anthropic 显示出显著的企业增长，而 <strong>Alphabet</strong>（ GOOG +1.60%）（ GOOGL +1.47%）在 11 月发布了其令人印象深刻的 Gemini 3 模型。</p>
</div><p>Advertisement</p>
<div class="lb-trans"><p>广告</p>
</div><p>Still, the fear may be misplaced. It doesn't seem likely that the AI revolution would be dominated by a single model builder, but rather by a cohort of winners in an oligopoly. That's how both the semiconductor and cloud computing sectors have evolved. The AI large language model (LLM) market will likely follow a similar path.</p>
<div class="lb-trans"><p>不过，这种恐惧可能是多余的。AI 革命不太可能被单一模型构建者主导，而是由一群赢家在寡头垄断中共同发展。这与半导体和云计算行业的发展方式相似。AI 大型语言模型（LLM）市场可能会遵循类似的路径。</p>
</div><p>After all, Alphabet was regarded as a loser in the AI race as recently as this year, only to retake the lead. OpenAI is certainly not going away, and this week's investment in OpenAI by <strong>Amazon</strong> appears to indicate that at least some astute executives and investors still believe in the company.</p>
<div class="lb-trans"><p>毕竟，Alphabet 在今年早些时候被视为 AI 竞赛的失败者，但随后重新夺回了领先地位。OpenAI 显然不会消失，而本周 <strong>亚马逊</strong> 对 OpenAI 的投资似乎表明，至少一些精明的高管和投资者仍然相信这家公司。</p>
</div><p>Meanwhile, <strong>Morgan Stanley</strong> sell-side analyst Keith Weiss just upgraded Microsoft stock, giving it a $650 price target, good for 35% upside from the current price. His analysis and conversations with management indicated that Azure AI demand is stronger than initially thought and that Azure AI's gross margins can expand with scale as more revenue is generated over the next two years. Furthermore, Weiss noted that his estimates don't even contemplate the full OpenAI contract, which could lead to further upside.</p>
<div class="lb-trans"><p>与此同时，<strong>摩根士丹利</strong>卖方 分析师 Keith Weiss 刚刚上调了微软股票评级，给出了 650 美元的目标价，相较于当前价格有 35% 的上涨空间。他的分析和与管理层的对话表明，Azure AI 的需求比最初预期的要强，并且随着未来两年收入的增加，Azure AI 的 毛利率 可以随着规模的扩大而提升。此外，Weiss 指出，他的估计甚至没有考虑到完整的 OpenAI 合同，这可能会带来进一步的上涨空间。</p>
</div><p>2026 should also see the introduction of Microsoft's next-generation AI chip, named Braga. According to reports this past summer, the chip was initially planned for 2025, but a redesign pushed back its introduction by six months. If Microsoft can develop an impressive in-house-designed chip, as Alphabet and Amazon have, that could lead to even more optimism.</p>
<div class="lb-trans"><p>2026 年还将推出微软的下一代 AI 芯片，名为 Braga。根据今年夏天的报道，该芯片最初计划在 2025 年推出，但由于重新设计，推出时间推迟了六个月。如果微软能够开发出一款令人印象深刻的自家设计芯片，像 Alphabet 和亚马逊那样，这将进一步提升市场的乐观情绪。</p>
</div><h2>2. Alphabet</h2>
<div class="lb-trans"><h2>2. Alphabet</h2>
</div><p>Speaking of Alphabet, it would definitely be possible for both Microsoft and Alphabet to appreciate 50% in 2026. While Alphabet has had the best year of the &#34; Magnificent Seven&#34; stocks, up 62% on the year, Alphabet also entered the year as the cheapest of the bunch. In fact, despite this year's rise, it's still the second-cheapest of the bunch.</p>
<div class="lb-trans"><p>说到 Alphabet，微软和 Alphabet 在 2026 年都有可能上涨 50%。虽然 Alphabet 在 “七大奇迹” 股票中表现最佳，今年上涨了 62%，但 Alphabet 年初时也是这群股票中最便宜的。事实上，尽管今年上涨，但它仍然是 这群股票中第二便宜的。</p>
</div><p>Coming into the year, investors were nervous that AI chatbots could disrupt Alphabet's Search business. However, that doesn't seem to be happening. Search paid clicks grew by 2%, 4%, and 7% in the first, second, and third quarters, respectively, showing a reacceleration after Alphabet introduced AI Mode into Search in May.</p>
<div class="lb-trans"><p>进入今年，投资者对 AI 聊天机器人可能会扰乱 Alphabet 的搜索业务感到紧张。然而，这似乎并没有发生。搜索付费点击在第一、第二和第三季度分别增长了 2%、4% 和 7%，显示出在 Alphabet 于 5 月将 AI 模式引入搜索后，增长重新加速。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84NDc3MDUvZ2V0dHlpbWFnZXMtMjIyNjMzOTQxOS5qcGcmdz0zODQw" alt="A hand holding a stylus that is touching an icon that says AI agents, which is projected over a laptop." original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F847705%2Fgettyimages-2226339419.jpg&amp;w=3840&amp;op=resize"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>With the November release of Gemini 3, Alphabet has seemingly taken the lead for the moment in the AI race across several benchmarks. What's even better is that Gemini 3 was trained on Alphabet's homegrown Tensor Processing Units (TPUs). Following the Gemini release, other major companies are now looking to buy or lease TPUs from Alphabet or its cloud unit, Google Cloud.</p>
<div class="lb-trans"><p>随着 11 月 Gemini 3 的发布，Alphabet 似乎在多个基准测试中暂时领先于 AI 竞赛。更好的是，Gemini 3 是在 Alphabet 自家研发的张量处理单元（TPU）上训练的。在 Gemini 发布后，其他主要公司现在正在寻求从 Alphabet 或其云部门 Google Cloud 购买或租赁 TPU。</p>
</div><p>Even Alphabet rival <strong>Meta Platforms</strong> is reportedly considering using TPUs, according to late-November press reports. And just last Friday, Reuters reported a massive cloud deal worth over $10 billion between cybersecurity giant <strong>Palo Alto Networks</strong> and Google Cloud.</p>
<div class="lb-trans"><p>甚至 Alphabet 的竞争对手 <strong>Meta Platforms</strong> 据报道也在考虑使用 TPU，根据 11 月底的新闻报道。而就在上周五，路透社报道了网络安全巨头 <strong>Palo Alto Networks</strong> 与 Google Cloud 之间达成的一项超过 100 亿美元的大型云交易。</p>
</div><p>That all bodes very well for Google Cloud, which has been an incredibly underrated part of Alphabet's business. Google Cloud has now reached scale, with a $60 billion revenue run-rate and an almost $5 billion operating profit run-rate as of the last quarter. Growth accelerated by 34% for that business in Q3, accompanied by margin expansion.</p>
<div class="lb-trans"><p>这对谷歌云的前景非常乐观，谷歌云一直是 Alphabet 业务中被严重低估的一部分。截至上个季度，谷歌云的收入年化率已达到 600 亿美元，运营利润年化率接近 50 亿美元。该业务在第三季度的增长加速了 34%，同时伴随着利润率的提升。</p>
</div><p>So not only could the Cloud unit become a second major profit center beyond ad revenue, but 2026 could also bring exciting developments for Waymo. Waymo is now delivering over 1 million autonomous rides per month, with a significant lead over competitors in scaling. Next year could bring about more disclosure around Waymo's revenue or valuation, which could add yet another major business to Alphabet's expanding empire.</p>
<div class="lb-trans"><p>因此，云业务不仅可能成为广告收入之外的第二个主要利润中心，2026 年也可能为 Waymo 带来令人兴奋的发展。Waymo 目前每月提供超过 100 万次自主驾驶服务，在规模化方面领先于竞争对手。明年可能会有更多关于 Waymo 收入或估值的披露，这可能为 Alphabet 不断扩张的帝国增添另一个重要业务。</p>
</div><h2>3. Intel</h2>
<div class="lb-trans"><h2>3. 英特尔</h2>
</div><p><strong>Intel</strong>( INTC +1.49%) has had an even better year than Alphabet or Microsoft, up 83.6% on the year thus far. Of course, Intel was trading at a practically distressed price heading into 2025, below its book value and without a CEO. And despite the 2025 surge, its market cap is still far, far lower than all the supposed AI winners of today.</p>
<div class="lb-trans"><p><strong>英特尔</strong>（INTC +1.49%）的表现甚至比 Alphabet 或微软更好，今年迄今上涨了 83.6%。当然，英特尔在 2025 年之前的交易价格几乎处于困境，低于其 账面价值，并且没有首席执行官。尽管在 2025 年出现了激增，但其 市值 仍远低于今天所有所谓的 AI 赢家。</p>
</div><p>Meanwhile, 2026 is shaping up to be an exciting year. New CEO Lip-Bu Tan, who joined the company in March, will begin to make his presence felt more noticeably. The all-important 18A node -- the node at which Intel predicts it will either equal competitors or regain its technology leadership in the industry -- will begin to deliver product. 18A has just begun high-volume manufacturing this quarter, with the first 18A product, Panther Lake, set to enter the laptop market in January.</p>
<div class="lb-trans"><p>与此同时，2026 年似乎将是一个令人兴奋的年份。新任首席执行官 Lip-Bu Tan 于 3 月加入公司，将开始更加明显地展现他的影响力。至关重要的 18A 节点——英特尔预测将在该节点上与竞争对手持平或重新获得行业技术领导地位——将开始交付产品。18A 本季度刚刚开始大规模生产，首款 18A 产品 Panther Lake 预计将在 1 月进入笔记本市场。</p>
</div><p>Success on 18A in the form of better revenue and margins could yield external customer wins for future nodes 18AP and 14A. Already, technology pundits are reporting that major companies such as <strong>Apple</strong>, Nvidia, and even Intel rival <strong>Advanced Micro Devices</strong> are looking to potentially use the 14A node for their server central processing units (CPUs), according to analysts for China research firm GF Securities.</p>
<div class="lb-trans"><p>在 18A 节点上取得成功，带来更好的收入和利润率，可能为未来的 18AP 和 14A 节点赢得外部客户。根据中国研究公司 GF Securities 的分析师报告，科技专家已经透露，<strong>苹果</strong>、Nvidia，甚至英特尔的竞争对手 <strong>超微</strong> 都在考虑潜在使用 14A 节点用于其服务器中央处理单元（CPU）。</p>
</div><p>If an external customer were to commit to Intel's 14A node, which is expected to be released in 2027 or 2028, there could be confirmation of the customer win during 2026. After all, there has already been a flurry of positive reports on 14A technology and the adoption of Intel's EMIB packaging technology over the past month or so.</p>
<div class="lb-trans"><p>如果有外部客户承诺使用英特尔的 14A 节点，预计将在 2027 年或 2028 年发布，可能会在 2026 年确认客户的成功。毕竟，过去一个月左右，关于 14A 技术和英特尔 EMIB 封装技术采用的积极报告已经层出不穷。</p>
</div><p>If investors come to believe that Intel has pulled even or ahead in terms of process technology, financial results improve with 18A manufacturing, and/or Intel announces a significant external 18AP or 14A customer win for its foundry, there is still considerable upside left in the stock.</p>
<div class="lb-trans"><p>如果投资者相信英特尔在工艺技术方面已经追平或超越，18A 制造带来的财务结果改善，和/或英特尔宣布获得重要的外部 18AP 或 14A 客户的成功，那么该股票仍然有相当大的上涨空间。</p>
</div>

The 3 Deep Learning Stocks That Could Be Worth 50% More by 2027

- 投资者对 2026 年的前景感到不安，尽管人工智能增长强劲。  
- 微软、Alphabet 和英特尔在接下来几年内仍然被看好，预期都有 50% 的上涨空间。  
- 预计微软下一代 AI 芯片和 Alphabet 的云业务将推动未来发展。

到 2027 年可能增值 50% 的三只深度学习股票